East Norriton Township PA continues to be a popular housing choice with strong activity and stable pricing over the last several years.
The area now comprising East Norriton was originally included in the Manor of Williamstadt created by William Penn in 1689. Norriton Township was created in 1730, and was subsequently reduced by the creation of the Borough of Norristown and then was split to create East and West Norriton in 1909.
Originally a largely agricultural area, East Norriton Township is today an area of mixed residential, office, commercial, and industrial areas. It now covers approximately 6.1 square miles with a population of 13,590 per the 2010 census. There are approximately 5300 housing units including a wide variety of single family properties, townhomes, and apartments.
Housing prices and sales activity have generally been more stable here than found in much of the area. Over the last decade in East Norriton home sales activity and home prices reached a peak in 2006 when there were 224 properties sold with an average sales price of $292,000 and only 39 days average on the market. Prices then fell to reach a pricing low in 2012 with an average sales price of $229,000 with 180 homes sold averaging 131 days on the market.
Since then township home sales have varied between 168 and 206 properties per year with average home prices between $228,000 and $244,000. In 2016 year to date there have been 55 sales with an average sales price of $228,000. There are also 38 pending properties with an average list price of $256,000 and 96 properties now available in the market with an average list price of $279,000. As seen in years before, if continued, the lower average sales prices should produce stronger sales for the entire year.
With it's wide variety of housing, reasonable pricing, and convenient location, East Norriton Township should remain a solid housing choice in Montgomery County.
Long & Foster Real Estate Inc – Devon, PA/Wilmington, DE
Office: 610-225-7400/Direct: 610-618-0808
(All statistics per the TrendMLS System and believed accurate but not guaranteed)